Mr Samant Sekhri Suspended Director Of ... vs Hbd Financial Services Ltd & Anr
- CitationCompany Appeal (AT) (Insolvency) No. 578 of 2020
Ratio decidendi
The rule this decision rests on
An appeal lies only against an order that aggrieves the appellant; an appeal directed against a non-appealable or non-prejudicial order (here, a mere reservation of orders) is not maintainable, and where the appellant instead challenges an order that is not assailed at all while leaving the operative order of admission unchallenged, the appeal is frivolous and may be dismissed with costs as an abuse of process.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Mr. Samant Sekhri [Suspended Director of Corporate Debtor M/s Hint Publication Pvt. Ltd.] ...Appellant
Versus
HBD Financial Services Ltd. & Anr. ...Respondents
Present: For Appellant: Mr. Vipin Garg, Advocate. For Respondents: Mr. Gautam Singhal, R-2 in person. Mr. Vikas Anand, Advocate.
ORDER
(Through Virtual Mode)
21.07.2020: Heard learned counsel for the Appellant. Mr. Gautam
Singhal, Respondent No. 2 is also present in person.
2. This appeal is directed against order dated 26th February, 2020 passed by
the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench
in CP No. (IB) 515/ ALD/2019 by virtue whereof, after hearing both counsels at
length, order was reserved. On the face of it the appeal is not maintainable as
in terms of the same only order has been reserved and neither party can claim
prejudice or being aggrieved thereof. But the matter des not rest there what
follows is that on 27th February, 2020, the Adjudicating Authority has
pronounced the order admitting the application under Section 7 of the I&B Code
with consequential order of slapping of moratorium on assets of Corporate -2-
Debtor and appointment of the Interim Resolution Professional. Order dated
27th February, 2020 admitting the application commencing the Corporate
Insolvency Resolution Process has not been assailed. It is intriguing that instead
of assailing the order of admission, the Appellant has preferred this appeal
against order dated 26th February, 2020 of which the Appellant could by no
stretch of imagination be aggrieved of. In this circumstance, we are of the
considered opinion that the instant appeal is frivolous and has been filed with a
design to mislead this Appellate Tribunal.
3. The appeal is dismissed as being frivolous and a cost of Rs.1 Lakh (Rupees
One Lakh Only) is imposed on the Appellant.
[Justice Bansi Lal Bhat] Acting Chairperson
[Dr. Ashok Kumar Mishra] Member (Technical) am/gc
Company Appeal (AT) (Insolvency) No. 578 of 2020
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